Creating your BHAG (Big Hairy Audacious Goal) as Jim Collins describes and shares, is an iterative process. It rarely is achieved in a few meetings, or without completing several very important milestones for your business. Included in these are these three elements of your Hedgehog Concept: Core Purpose, Profit Per X and Brand Promise.Read More
Strategic Discipline Blog
My plan for this blog originally was the irony of freedom. The past three days working with an enthusiastic and dedicated group of leaders from a new customer who started with me in February for a private two day Rockefeller Habits Workshop. They’d previously attended the Four Decision Workshop in November.
How can your company go from Good to Great? We’ve been exploring this through 12 questions Jim Collins offered his Australian business owners and Growth Summit attendees at Melbourne this February.
Strategy challenges are indicated by a slowing in top line revenue growth. If revenue is not growing as quickly as you like, then it’s time to re-examine your strategy: What you’re selling to whom? It’s important to have a concise statement of that strategy so everyone’s aligned and on the same page without wasting sales or operational energies on activities not useful to the business.
One of my clients just lost a valued employee from their leadership team. One of the reasons she decided to leave was the pressure she felt from her boss to perform in sales. She had recently accepted a promotion to sales from her marketing position. This year she’d been working on a very large prospect that would very likely have topped the company’s previous best ever customer. She gotten them a commitment just not the full commitment that the company sales procedure outlines. It created conflict and anxiety as she worked to close them to a long term engagement.
The final piece to the Seven Strata of Strategy is actually two pieces. Remember the Seven Strata of Strategy are from Mastering the Rockefeller Habits author, Verne Harnish. His Fortune Magazine article revealed from careful research following the last recession these specific strategies were key differentiators to increase revenue faster than competitors who didn’t have these key elements identified. Companies that had these seven strategies identified outpaced their competition even during the last recession.
In The Hedgehog Concept we discussed the intersection of three circles that provide your One Thing Focus for the strategy of your business. Where do you find or discover the elements that comprise the three circles? If you’ve completed portions of your One Page Strategic Plan you’ll have made progress toward understanding what these are.
My wife, youngest son and I journeyed to Kennedy Space Complex on Friday ahead of the Fortune Fall Growth Summit. Witnessing firsthand the size of the rockets and the place where so many historic space launches took place was inspiring. It was also fascinating to learn all the products and services that developed directly from the space program. [Did you know that grooved highways came from NASA’s determined efforts to learn how to slow the Space Shuttle?]
Yesterday was the first half day of Gazelles International Coaches Summit in advance of the Fortune Sales & Marketing Growth Summit here in Las Vegas. One of the breakout sessions pooled our coaches on the resources and techniques they use to discover our client's Brand Promise and BHAG.